HB 1138 Summary

• North Dakota adopts the "Compact for a Balanced Budget," an interstate compact that applies for a constitutional convention limited to proposing a Balanced Budget Amendment to the U.S. Constitution

• The proposed amendment requires total federal outlays not exceed total receipts unless financed by debt, caps authorized debt at 105% of current levels with state legislature approval for increases, and mandates presidential spending cuts if debt exceeds 98% of the limit

• Establishes a compact commission with initially three unpaid members appointed by member states to coordinate convention operations, encourage other states to join, and defend the compact in court

• Each member state's chief executive officer serves as the sole delegate to the convention with authority limited to debating and voting on the Balanced Budget Amendment only; convention rules and procedures are strictly defined in the compact

• The compact terminates if the Balanced Budget Amendment is ratified or automatically expires 7 years after the first state enacts it if ratification has not occurred